Honrado Farmers Credit Cooperative (HONFACRECO) of the municipality of San Francisco, Surigao del Norte started a microfinance project with a capital of Thirty Thousand Pesos. The project was able to serve ten cooperative members.
One of the cooperative members, Nazar Nuñez has proven that HONFACRECO microfinance project is very effective that it helped him alleviate from poverty. Nazar was described as a business minded person at his young age he was already in business. He ventured into cooking snacks, selling vegetables, and even selling health products via multi-level marketing. When he availed the microfinance loan from HONFACRECO last June 21, 2010 he used it as an initial capital in his business. He started selling frozen products like chicken, hotdog and other frozen food.
Later, he shifted to another enterprise and able to avail a micro-agri loan of Ten (P 10,000.00) Thousand pesos from HONFRACRECO which was financed by the Center for Agriculture and Rural Development Inc. (CARD, Inc.). Nazar fondly called as “Boyet” by his colleagues and relatives, engaged in buying live pigs weighing approximately 80 to 100 kilograms which he then butchered and sold as meat products in the neighborhood of Barangay Diaz. His business was a success and helped the residents because they can easily buy fresh meat from his outlet without going to Surigao City Market which about twelve (12) kilometers away.
It was a profitable enterprise with an average net profit of One Thousand Eight Hundred Pesos (P 1,800) per pig.
Presently, Boyet has acquired a motorcycle with sidecar worth P 150,000.00 to be used in procuring pigs. He also capitalized P 20,000.00 for a sari-sari store that served as his outlet for his fresh meat products and soft drinks. In addition, he also purchased a new freezer worth P 14,000.00 to support his business. Occasionally, he engaged in selling lechon 1 to 2 times a month, with a total income of P 10,000.00.
He is now thirty three (33) years old and happily married to Willygen Gordonas whose parents are both ARB’s. Willygen’s mother Crispula J. Gordonas is a leaseholder while her late father Felias M. Gordonas was an EP/CLOA holder.
Nazar G. Nuñez’ success story proves the importance of cooperative and its compliments on poverty alleviations to the community as a whole.